Three-Story 9-Unit
137 Franklin Street Lynn, MA 01902
137 Franklin Street, Lynn, MA, 01902
$1,875,000
For Sale
$1,875,000
Nine-unit, three-story building featuring eight two-bedroom units and one three-bedroom unit, with separately metered heat and electric.
Property Size7,565 SF
Price / SF$247.85
Days on Market37
Property Features for 137 Franklin Street
General Information
- Standard status
- Active
- Size
- 7,565 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
North Shore Realty Advisors
Listed by
Dan Pouladian
(781) 233-1401
Source
Littlefieldre
Added: Jun 15 Updated: Jul 21 at 6:46AM Checked: Jul 21 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of North Shore Realty Advisors
Investment Insights
Based on property information with market context.
This clean, 9-unit multi-family property is arranged as a three-story building with eight (8) two-bedroom units and one (1) three-bedroom unit. The seller notes lead compliance letters are available for the units. The building has documented updates including updated electrical with 400-amp service, plumbing upgrades, and unit renovations.
Per the current setup, tenants are responsible for their own separately metered heat and electric. The landlord pays for hot water and common electric.
The property is offered for sale with an indicated 8.5% cap rate in the public remarks. The living area is listed at 7,565± square feet and total gross area at 10,262± square feet. The asset is located at 137 Franklin Street, Lynn, MA 01902.
Per the current setup, tenants are responsible for their own separately metered heat and electric. The landlord pays for hot water and common electric.
The property is offered for sale with an indicated 8.5% cap rate in the public remarks. The living area is listed at 7,565± square feet and total gross area at 10,262± square feet. The asset is located at 137 Franklin Street, Lynn, MA 01902.
Key Highlights
- 9‑unit, 3‑story multifamily with 8 two‑bedroom units and 1 three‑bedroom unit
- 8 two‑bedroom and 1 three‑bedroom units include lead compliance letters on hand
- 7,565± SF living area and 10,262± SF total gross area
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $256.9k | $33.96 |
| − Vacancy | −$16.7k | −$2.21 |
| EGI | $240.2k | $31.75 |
| − OpEx | −$108.1k | −$14.29 |
| NOI | $132.1k | $17.46 |
7,565 SF · lease $33.96/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.20M
NOI $132,115 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,370 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Nine-unit, three-story building featuring eight two-bedroom units and one three-bedroom unit, with separately metered heat and electric.
Where is this apartment building located?
The property is located at 137 Franklin Street Lynn, MA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: 9‑unit, 3‑story multifamily with 8 two‑bedroom units and 1 three‑bedroom unit; 8 two‑bedroom and 1 three‑bedroom units include lead compliance letters on hand; 7,565± SF living area and 10,262± SF total gross area
